U.S. chipmaker, saved from Broadcom’s hostile takeover, now needs to convince investors of its own plan

Very few companies can count on the direct protection of the President of the United States. For Qualcomm—which can—that protection may have a price down the road.

In an surprise move, President Donald Trump late Monday ordered Singapore-based Broadcom to call off its unsolicited attempt to acquire Qualcomm for $117 billion in cash and stock. The order cited “credible evidence” that Broadcom “might take action that threatens to impair the national security of the United States” if it came into control of Qualcomm.

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